In this day when our state can’t seem to attract anyone without some kind of handout, it’s encouraging to see a guy like Bob Israels. Israels says he turned down abatements, grants and the like to develop what he believes to be the future for the retail furniture industry.

Today Israels will be reopening the Klingman’s Furniture store in the old Roger’s Department Store.
Israels spent at least 20 million dollars of his own money remodeling the structure. The City of Wyoming offered him an abatement. He turned it down, saying the city needed the money more. Instead, he concentrated on getting the biggest bang for his own bug. He chose the 28th street property because of its attractive price and location. The savings allowed him to spend more on people, inventory, and design.

Sure, he knows he’s taking a big risk, putting his own money on the line, in a volatile economic climate. Furniture is closely tied to housing sales. Israels instead is focusing on the long term picture. His demographic study, which cost 200 thousand dollars, shows plenty of opportunity. Instead of thinking local, he’s going regional. He’s confident shoppers he can lure customers from affluent markets, three maybe five hours away, because they have no good place anymore to shop for furniture. Many retailers, he says have gone low end – cutting their inventories to save space and money. He believes people who are willing to spend money on furniture want to see it and touch it. His store houses 3.6 acres of furniture – plenty to touch and see. His ideas have paid off big time before and given the skin in the game this time, they could pay of again.